Agbiz optimistic about market expansion to new Brics members

With more countries to become members of the Brazil, Russia, India, China and South Africa (Brics) grouping, the South African agricultural industry will seek to deepen trade with these countries, particularly Saudi Arabia as a $20-billion importer of agricultural produce every year.

The European Union and Asia nonetheless remain fundamentally important markets to South Africa’s agricultural trade and the expansion to more Brics members should be seen as additional markets, not replacements, Agricultural Business Chamber (Agbiz) chief economist Wandile Sihlobo states.